Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry, said, "Korea and Vietnam share a common task of actively responding to the rapidly changing environment and discovering new growth engines. It is difficult to overcome the current crisis with the strength of one country alone, and we must collaborate with reliable partners."
During his opening remarks at the Korea-Vietnam Business Forum held at the Lotte Hotel in Jung-gu, Seoul, on the 12th, he noted, "The internal and external environment facing both countries is not easy," adding, "With the spread of protectionism such as the United States' reciprocal tariff imposition and geopolitical conflicts, global economic uncertainty is increasing, and the existing growth model has reached its limits."
The event was held in conjunction with the visit of Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam, to Korea. About 300 participants including Chairman Chey, Park Seung-hee, president of Samsung Electronics, and Choo Hyung-wook, CEO of SK Innovation, attended from the Korean side, while around 200 from the Vietnamese side were present.
He stated, "Korea and Vietnam are optimal partners who can hold hands with each other amid crises," emphasizing that "since the establishment of diplomatic ties in 1992, we have developed into indispensable partners through robust exchanges across the economy and culture, and today, Korea is one of the top three trading partners for Vietnam and the largest investor in the country as well."
He explained, "To strengthen the mutually beneficial and future-oriented cooperation between the two countries, the active role of corporations is more important than ever, as they serve as a bridge that connects technology, capital, and human resources, linking the industries and economies of both countries practically."
Chairman Chey identified digital, advanced industries, supply chain, and energy as areas where both countries can create synergy. At the event, corporations from both countries, including SK Innovation and HD Korea Shipbuilding & Offshore Engineering, announced response and cooperation plans for each sector.
Last year, trade volume between Korea and Vietnam was $86.7 billion (about 10.68 trillion won), which is more than 173 times the $500 million (about 700 billion won) at the time of diplomatic ties in 1992. Vietnam has been one of Korea's top three trading partners for three consecutive years, following China and the United States. Korea is also one of Vietnam's top three trading partners and the largest investor. The cumulative investment amount reached $92.5 billion (about 128.46 trillion won).